Guam motorists are facing another gas price increase. The cost of a gallon of unleaded gasoline at Mobil stations is now $4.98 - up 10 cents.

It's the second increase this year.

On Jan. 29, the price for a gallon of unleaded gas rose from $4.78 to $4.88.

These increases come after several months with the price of a gallon of unleaded gas at a steady $4.78 a gallon. That was after a drop of 10 cents in October from $4.88. Last year's low was $4.28 a gallon for unleaded fuel.

Yesterday's increase brings the cost at the pump to the highest prices in recent years.

As of midnight, gasoline prices at 76 Circle K and Shell in central Guam hadn't increased. Historically, the three gas stations mirror each other's prices.

The price of oil dipped slightly toward $95 a barrel on Monday as investors cut back on speculative positions and most Asian markets were closed for a holiday, according to The Associated Press. Gasoline that fuels the island comes from refineries in Asia.

Trading was expected to be light for much of the week with several Asian markets closed for the Lunar New Year, the AP story noted.